GUE upgrades large USA U Resource, Scoping Study to Come

Today, our US uranium Investment Global Uranium & Enrichment (ASX: GUE) put out an enhanced and upgraded JORC on its large Colorado, USA uranium project.

GUE announced an 11% increase in the JORC Resource at the Hansen Deposit within its Tallahassee Uranium Project in Colorado, USA to 22.9Mlbs U3O8.

The total attributable Tallahassee Mineral Resource now stands at 52.2Mlbs U3O8 at 530ppm using a 250ppm cut-off grade up from ~50Mlbs.

The part we are most interested in is the Hansen deposit which is high-grade and shallow.

Overall, the project is one of the largest undeveloped U.S. uranium projects - but that will hopefully soon change with a scoping study due this quarter.

Meanwhile, drill results from the first two holes at its Maybell Uranium Project in Colorado came in last week, revealing high grade, chunky hits at a time when the uranium spot price remains elevated at ~US$79/lb.

How does this impact our GUE Investment Memo?

Objective #4: Deliver at least one resource upgrade

We want to see GUE deliver a resource upgrade, which we think will most likely be at its most advanced project in Colorado, however priorities may change based on exploration success.

What’s Next for GUE?

Upon completing the current drill program, GUE plans to prepare a maiden mineral resource estimate for Maybell.

Depending on the resource size and economics, next steps could potentially include additional drilling in 2025 and a scoping study to evaluate development options.

Beyond that, a Scoping Study is due at GUE’s advanced ~50Mlb JORC resource in another part of Colorado this quarter.